GalaxySpace Eyes Hong Kong, Macau for Global Space Sector Expansion
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GalaxySpace, a leading Chinese commercial space company, sees Hong Kong and Macau as crucial strategic hubs for global expansion of China's space sector, leveraging their international networks to complement Beijing's R&D strengths.
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GalaxySpace, founded in 2018, is a leading Chinese commercial space company developing low-Earth orbit satellites and communications technologies. Beijing is China's hub for satellite R&D and manufacturing.
“We have come to realise in recent years that Hong Kong and Macau hold irreplaceable strategic positions and industrial value in the development of China’s commercial space sector,” Xin Yichun, general manager of government and corporate partnership at GalaxySpace, told reporters during a media tour on Wednesday in Beijing.
While Beijing, the Chinese capital, serves as the country’s hub for satellite research, development and manufacturing, Hong Kong and Macau complement those strengths with international business networks and global connectivity, positioning them as an indispensable gateway for China’s commercial space sector to expand globally, Xin said.
The company was pushing for more collaboration between the three cities in the commercial space sector, believing that Hong Kong and Macau would serve as “an important platform for Chinese commercial technology and services to expand overseas”, Xin added.
Founded in 2018, GalaxySpace has emerged as one of China’s leading commercial space companies, developing low-Earth orbit satellites and communications technologies as Beijing accelerates its drive to develop commercial space and domestic satellite network industries.
The company, which began its initial public offering process for a domestic listing earlier this year, has launched a total of 46 self-developed satellites as of this month.
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- Specific details of collaboration plans?
- Timeline for global expansion?
- Impact on Hong Kong/Macau economies?
